NB Bancorp (NASDAQ:NBBK) Reaches New 52-Week High at $14.88

Shares of NB Bancorp, Inc. (NASDAQ:NBBK) hit a new 52-week high during trading on Monday . The company traded as high as $14.88 and last traded at $14.81, with a volume of 162499 shares. The stock had previously closed at $14.62.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler started coverage on NB Bancorp in a research note on Tuesday, April 9th. They issued an “overweight” rating and a $17.00 price target for the company.

NB Bancorp Trading Up 1.7 %

The company has a debt-to-equity ratio of 0.37, a current ratio of 1.19 and a quick ratio of 1.19. The business’s 50-day simple moving average is $13.89.

NB Bancorp (NASDAQ:NBBK) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. The company had revenue of $42.13 million for the quarter, compared to the consensus estimate of $38.30 million. As a group, equities research analysts forecast that NB Bancorp, Inc. will post 0.91 EPS for the current fiscal year.

Insider Buying and Selling

In other NB Bancorp news, CEO Joseph P. Campanelli acquired 26,000 shares of NB Bancorp stock in a transaction that occurred on Friday, March 1st. The stock was bought at an average cost of $13.97 per share, for a total transaction of $363,220.00. Following the acquisition, the chief executive officer now owns 26,000 shares of the company’s stock, valued at $363,220. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Joseph R. Nolan, Jr. bought 10,000 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were acquired at an average cost of $13.50 per share, with a total value of $135,000.00. Following the completion of the transaction, the director now owns 10,100 shares of the company’s stock, valued at approximately $136,350. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Joseph P. Campanelli bought 26,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was purchased at an average cost of $13.97 per share, for a total transaction of $363,220.00. Following the completion of the transaction, the chief executive officer now directly owns 26,000 shares of the company’s stock, valued at approximately $363,220. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 75,640 shares of company stock worth $1,065,105. 1.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new position in shares of NB Bancorp during the 1st quarter valued at about $85,000. Janney Montgomery Scott LLC purchased a new position in shares of NB Bancorp during the 1st quarter valued at about $273,000. Oppenheimer & Close LLC lifted its holdings in NB Bancorp by 22.1% in the 1st quarter. Oppenheimer & Close LLC now owns 82,999 shares of the company’s stock worth $1,134,000 after purchasing an additional 15,000 shares in the last quarter. Wellington Management Group LLP purchased a new position in NB Bancorp in the 4th quarter worth approximately $7,232,000. Finally, Hennessy Advisors Inc. purchased a new position in NB Bancorp in the 1st quarter worth approximately $2,595,000.

About NB Bancorp

NB Bancorp, Inc focuses on operating as a bank holding company for Needham Bank that provides various banking products and services in Greater Boston metropolitan area and surrounding communities in Massachusetts, eastern Connecticut, southern New Hampshire, and Rhode Island. The company offers various deposits, including certificate of deposit, individual retirement, money market, savings, NOW, demand deposit, and interest-bearing and noninterest-bearing checking accounts; and commercial real estate and multifamily, one- to four-family residential real estate, construction and land development, commercial and industrial, and consumer loans, as well as home equity loans and lines of credit.